• Buelldozer@lemmy.today
    link
    fedilink
    English
    arrow-up
    2
    ·
    13 days ago

    There’s no such thing as a market so controlled that it’s immune to inflation. The Russian Ruble is as controlled as a currency can be and Russia is teetering on the edge of hyper-inflation. It’s core inflation rate is over 9% and their version of the “Prime Rate” for lending has now jumped from 19% to a historic 21%.

    China has more breathing room than Russia but it’s still not going to be pretty, especially if this “bailout” fails.

    • neidu3
      link
      fedilink
      English
      arrow-up
      6
      ·
      13 days ago

      Such things happen when one decides to start a money burning competition with a block of countries with a combined GDP roughly 25 times that of russia.

      • affiliate@lemmy.world
        link
        fedilink
        English
        arrow-up
        2
        arrow-down
        1
        ·
        13 days ago

        not sure who’s listening to this, but i thought i’d throw my hat in the ring. i can also burn all my money extremely quickly, if desirable.